Ticker: Juul gets FDA’s OK on e-cigs ; Jobless claims decline
The Food and Drug Administration is allowing vaping brand Juul to keep its e-cigarettes on the market, providing relief to a company that has struggled for years after being widely blamed for sparking the teen vaping trend. FDA regulators said Thursday that Juul’s studies show its e-cigarettes are less harmful for adult smokers, who can benefit from switching completely to vaping. The FDA decision applies to both tobacco- and menthol-flavored versions of the reusable product, which works with nicotine-filled cartridges sold in two different strengths. Juul previously discontinued several fruit and candy flavors that helped drive its popularity but were favored by teens. Juul will be one of only two U.S. companies authorized to sell menthol-flavored vapes, which many adults prefer to tobacco flavor. Jobless claims decline Applications for U.S. unemployment benefits declined for a fifth straight week to the lowest level since mid-April, showing a resilient job market. First-time jobless claims decreased by 7,000 to 221,000 in the week ended July 12. The median forecast in a Bloomberg survey of economists called for 233,000 applications. Continuing claims, a proxy for the number of people receiving benefits, were little changed at 1.96 million in the previous week that included Independence Day, according to Labor Department data released Thursday. Weekly claims have fallen back toward subdued levels seen before the pandemic after trending higher in May and June. At the same time, recurring claims near the highest since 2021 suggests unemployed Americans continue to find difficulty in securing a new job as the pace of hiring has slowed.
